PITTSBURGH & WEST VIRGINIA RAILROAD
FORM 10-Q
MANAGEMENT ANALYSIS
All of Registrant's railroad properties are on long-term lease
to Norfolk and Western Railway Company for the fixed, unvarying amount
of $915,000 cash rental per year. The lease also requires that
additional, large amounts be recorded as non-cash rent income.
With fixed revenue and expenses relatively constant, there is
very little fluctuation in operating results between periods. In
comparing the second quarter of 2000 with the preceding first quarter
2000 and the second quarter of 1999, revenues totaled $229,000, $229,000
and $229,000, respectively. Net income and income available for
distribution was $203,000, $213,000 and $207,000, respectively.
PART II. OTHER INFORMATION
Item 6. Exhibits and Reports on Form 8-K
None
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on its
behalf by the undersigned thereunto duly authorized.
PITTSBURGH & WEST VIRGINIA RAILROAD
08/08/00 Herbert E. Jones, Jr.
Date (Signature)
Chairman of the Board
08/08/00 Robert A. Hamstead
Date (Signature)
Secretary and Treasurer
August 08, 2000
